Automated digital wealth management firm Wealthfront said on Thursday that it has raised $486 million in its initial public offering (IPO), capping a strong year for fintech flotations in New York.
The Palo Alto, California-based company sold 34.6 million shares at $14 apiece, compared with its marketed range of $12 and $14 per share. The IPO valued Wealthfront at $2 billion.
U.S. IPO activity has remained resilient in 2025, despite tariff concerns earlier in the year and the longest government shutdown in October, with major companies including Nvidia‑backed AI infrastructure firm CoreWeave (CRWV.O) and design software maker Figma (FIG.N) moving ahead with their respective listings.
Wealthfront will join a host of big fintech companies that have gone public in 2025, marking a solid year for the sector. U.S. digital bank Chime Financial (CHYM.O) and Swedish firm Klarna (KLAR.N) went public earlier in the year.
Wealthfront, founded in 2008 by Andy Rachleff and Dan Carroll, provides automated tools such as cash accounts, ETF and bond investing, as well as trading and low-cost loans to its clients.
The company, a pioneer in using automation to build low-cost investment portfolios, has incorporated elements of artificial intelligence into its financial planning software.
Wealthfront will list on Nasdaq on Friday under the "WLTH" ticker. Goldman Sachs, J.P. Morgan and Citigroup are among the underwriters for the offering.
Earlier in the day, The Information had reported the pricing and amount raised.
